The Real Estate Ranger's Blog

5 Things to Understand About Homeowners Insurance 1. Look for exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These coverages must be bought separately. 2. Look for dollar limitations on claims. Even if you are covered for ...

10 Questions to Ask Your Condo Board Before you buy, contact the condo board with the following questions. In the process, you'll learn how responsive-and organized-its members are. 1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the perce...

Choices That Will Affect Your Loan: Mortgage term. Mortgages are generally available at 15-, 20-, or 30-year terms. The longer the term, the lower the monthly payment if the same amount is borrowed. However, you pay more interest overall if you borrow for a longer term.. A fixed rate allows you ...

6 Creative Ways to Afford a Home If your income and savings are making homebuying a challenge, consider these options. 1. Investigate local, state, and national downpayment assistance programs. These programs give loans or grants to cover all or part of your required downpayment. National progra...

10 Things a Lender Needs From You 1. W-2 forms or business tax return forms if you're self-employed for the last two or three years for every person signing the loan. 2. Copies of one or more months of pay stubs from every person signing the loan. 3. Copies of two to four months of bank or credi...

  Be sure you find a loan that fits your needs with these comprehensive questions. 1. What are the most popular mortgage loans you offer? 2. Which type of mortgage plan do you think would be best for us? Why? 3. Are your rates, terms, fees, and closing costs negotiable? 4. Will I have to buy priv...

10 Things to Take the Trauma Out of Homebuying 1. Find a real estate professional who's simpathetic. Homebuying is not only a big financial commitment, but also an emotional one. It's critical that the practitioner you choose is both skilled and a good fit with your personality. 2. Remember, the...

10 Tips for First-Time Homebuyers 1. Be picky, but don't be unrealistic. There is no perfect home. 2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. 3. Get your finances in order. Review your credit report and ...

10 Steps to Prepare for Homeownership 1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop a wish list of what you'd like your home to have. Then prioritize the features on your list. 3. Select three ...

Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will decide your credit score for obtaining a mortgage(real estate loan). 1) Your payment history. Whether you paid credit card obligations on time. 2) How much you owe. Owin...